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Fitch Ratings maintains Ecopetrol's overall credit rating at BB+ and stable outlook.

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Fitch Ratings has maintained Ecopetrol's global credit rating at BB+ with a stable outlook, while downgrading its Standalone Credit Profile (SCP) from 'bbb' to 'bbb-'. The agency affirmed the national long-term rating at 'AAA (col)' and short-term rating at 'F1+(col)'. The rating reflects Ecopetrol's position as Colombia's leading oil and gas producer and its significant energy transmission business through ISA subsidiary. Fitch highlighted the company's strategic importance and solid financial profile, with the SCP remaining within Investment Grade range.

Fitch Ratings ha mantenuto il rating di credito globale di Ecopetrol a BB+ con una prospettiva stabile, mentre ha declassato il suo Profilo di Credito Indipendente (SCP) da 'bbb' a 'bbb-'. L'agenzia ha confermato il rating nazionale a lungo termine a 'AAA (col)' e il rating a breve termine a 'F1+(col)'. Il rating riflette la posizione di Ecopetrol come principale produttore di petrolio e gas in Colombia e il suo significativo business di trasmissione energetica attraverso la controllata ISA. Fitch ha messo in evidenza l'importanza strategica dell'azienda e il suo solido profilo finanziario, con l'SCP che rimane all'interno della fascia di Investment Grade.

Fitch Ratings ha mantenido la calificaci贸n crediticia global de Ecopetrol en BB+ con una perspectiva estable, mientras que degrad贸 su Perfil de Cr茅dito Independiente (SCP) de 'bbb' a 'bbb-'. La agencia confirm贸 la calificaci贸n nacional a largo plazo en 'AAA (col)' y la calificaci贸n a corto plazo en 'F1+(col)'. La calificaci贸n refleja la posici贸n de Ecopetrol como el principal productor de petr贸leo y gas de Colombia y su importante negocio de transmisi贸n de energ铆a a trav茅s de la subsidiaria ISA. Fitch destac贸 la importancia estrat茅gica de la empresa y su s贸lido perfil financiero, manteniendo el SCP dentro del rango de Investment Grade.

顶检箻 霠堨澊韺呾姢鞐愳綌韼橅姼搿鞚 旮搿滊矊 鞁犾毄 霌标笁鞚 BB+搿 鞙犾頃橂┌ 鞝勲鞚 鞎堨爼鞝侅溂搿 韽夑皜頄堨姷雼堧嫟. 霃欖嫓鞐 霃呺 鞁犾毄 頂勲頃(SCP)鞚 'bbb'鞐愳劀 'bbb-'搿 頃橅枼 臁办爼頄堨姷雼堧嫟. 鞚 旮瓣磤鞚 甑皜 鞛リ赴 霌标笁鞚 'AAA (col)'鞙茧, 雼赴 霌标笁鞚 'F1+(col)'鞙茧 頇曥爼頄堨姷雼堧嫟. 鞚 霌标笁鞚 鞐愳綌韼橅姼搿れ澊 旖滊‖牍勳晞鞚 欤检殧 靹濎湢 氚 臧鞀 靸濎偘鞐呾泊搿 鞛愲Μ鞛£碃 鞛堨溂氅, ISA 鞛愴殞靷ゼ 韱淀暣 欷戩殧頃 鞐愲剤歆 鞝勳啞 靷梾鞚 鞖挫榿頃橁碃 鞛堨潓鞚 氚橃榿頃╇媹雼. 顶检箻电 須岇偓鞚 鞝勲灥鞝 欷戩殧靹标臣 韮勴儎頃 鞛 頂勲頃勳潉 臧曥“頃橂┌, SCP臧 韴瀽 霌标笁 氩旍渼 雮挫棎 雮晞 鞛堧嫟瓿 鞏戈笁頄堨姷雼堧嫟.

Fitch Ratings a maintenu la note de cr茅dit globale d'EcopetrolBB+ avec une perspective stable, tout en abaissant son Profil de Cr茅dit Ind茅pendant (SCP) de 'bbb' 脿 'bbb-'. L'agence a confirm茅 la note nationale 脿 long terme 脿 'AAA (col)' et la note 脿 court terme 脿 'F1+(col)'. La note refl猫te la position d'Ecopetrol en tant que principal producteur de p茅trole et de gaz en Colombie et son activit茅 significative de transmission d'茅nergie par l'interm茅diaire de sa filiale ISA. Fitch a soulign茅 l'importance strat茅gique de l'entreprise et son solide profil financier, avec un SCP restant dans la fourchette Investment Grade.

Fitch Ratings hat die globale Kreditbewertung von Ecopetrol bei BB+ mit einem stabilen Ausblick gehalten und das eigenst盲ndige Kreditprofil (SCP) von 'bbb' auf 'bbb-' herabgestuft. Die Agentur best盲tigte die nationale Langzeitbewertung mit 'AAA (col)' und die Kurzzeitbewertung mit 'F1+(col)'. Die Bewertung spiegelt die Position von Ecopetrol als f眉hrenden 脰l- und Gasproduzenten Kolumbiens wider, sowie das bedeutende Gesch盲ft mit der Energie眉bertragung 眉ber die Tochtergesellschaft ISA. Fitch hob die strategische Bedeutung des Unternehmens und das solide Finanzprofil hervor, wobei das SCP weiterhin im Investment-Grade-Bereich bleibt.

Positive
  • Maintained BB+ global credit rating with stable outlook
  • Retained national AAA(col) long-term and F1+(col) short-term ratings
  • Confirmed solid financial profile
  • SCP remains within Investment Grade range
Negative
  • Downgrade of Standalone Credit Profile from 'bbb' to 'bbb-'

Insights

The maintained BB+ rating with stable outlook, despite a minor downgrade in Standalone Credit Profile (SCP) from 'bbb' to 'bbb-', reflects Ecopetrol's resilient market position. The company's dominant role in Colombia's oil and gas sector, controlling 60% of hydrocarbon production, combined with its strategic energy transmission business through ISA, provides strong operational stability. The SCP remaining within Investment Grade, even above the global rating, indicates solid underlying fundamentals despite sovereign constraints. However, investors should note that while the rating affirmation is positive, the SCP downgrade suggests some deterioration in standalone credit metrics. The stable outlook and maintained national AAA rating provide comfort for domestic operations, though the BB+ global rating still sits one notch below investment grade, potentially affecting international borrowing costs.

BOGOTA, Colombia, Nov. 8, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) (the "Company" or "Ecopetrol") informs that Fitch Ratings聽 reported on November 6, 2024, that it has maintained the global credit rating of the Company at聽BB+聽with a stable outlook. Additionally, the agency has downgraded the Standalone Credit Profile ("SCP") from聽'bbb'聽to聽'bbb-'聽and affirmed the national long-term and short-term ratings of聽Ecopetrol at聽'AAA (col)'聽with a Stable Outlook and聽'F1+(col)', respectively.

Ecopetrol Logo.

Fitch noted that the global rating of聽'BB+'聽reflects the stable operational condition of the Company as the leading producer of oil and gas in Colombia, as well as its significant energy transmission business in Colombia and other Latin American countries through its subsidiary聽Interconexi贸n El茅ctrica S.A. E.S.P -ISA. The agency indicated Ecopetrol's strategic importance and ability to maintain a solid financial profile.

The evaluation of the aforementioned factors and the other considerations contained in the report support an individual rating that is within Investment Grade and at a level above the Company's overall rating.

The assessment of the aforementioned factors and other considerations contained in the report supports an SCP that remains within the Investment Grade range and above the Company's global rating.

The complete report issued by the agency on November 6, 2024, can be consulted at the following link:

Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 19,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector.

For more information, please contact:

Head of Capital Markets (a)
Lina Mar铆a Contreras Mora
Email: investors@ecopetrol.com.co

Head of Corporate Communications聽
Marcela Ulloa
Email: marcela.ulloa@ecopetrol.com.co

Cision View original content:

SOURCE Ecopetrol S.A.

FAQ

What is Ecopetrol's (EC) current credit rating by Fitch?

Fitch Ratings maintained Ecopetrol's global credit rating at BB+ with a stable outlook.

How did Fitch change Ecopetrol's (EC) Standalone Credit Profile in November 2024?

Fitch downgraded Ecopetrol's Standalone Credit Profile (SCP) from 'bbb' to 'bbb-'.

What is Ecopetrol's (EC) national rating in Colombia according to Fitch?

Ecopetrol maintains a national long-term rating of AAA(col) with Stable Outlook and short-term rating of F1+(col).

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Oil & Gas Integrated
Energy
United States of America
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